Healthy Living Group Shows Interest In Acquisition
7 May 2002
Healthy Living Group Shows Healthy Interest In Acquisitions
Waikato-based retailer and franchise group Healthy Living has purchased the Auckland based Vita Health Foods chain of nine stores. The acquisition takes the number of Healthy Living outlets to 25 in New Zealand and will take Healthy Living Group past $20 million in annual sales.
Murray Hardy, Healthy Living Group Managing Director says the acquisition now anchors the company at the forefront in natural health retailing in New Zealand, with stores now in all New Zealand's leading shopping malls.
"This acquisition also gives us a very strong presence in the Auckland market with 12 stores, and we are now a stronger position to capitalise on the ever increasing consumer demand for natural health remedies."
Healthy Living has also recently entered the Bay of Plenty with two new stores in Tauranga CBD and at Bayfair in Mt Maunganui.
Mr Hardy says the increased number of stores is good news for the New Zealand manufacturers and distributors associated with the Healthy Living franchise group, giving greater sales potential through increased outlets and a strong consumer information strategy.
According to Mr Hardy, recent figures from the US indicate natural and organic foods are growing at eight times faster than conventional food retailing, and natural and complementary medicines sales continue to grow strongly, not only in the US but throughout the world.
He says growth in natural health products is being driven by baby boomers, whose desire to get more enjoyment from their lives than previous generations is likely to fuel the natural health growth curve upwards for the next 20 years.
"While there is still a place for conventional medicine, increasing numbers of people are turning to natural health alternatives," he says. "Generally the groups who most recognise the value of natural health are women over 30, and those in retirement, but we are seeing increasing numbers of young people, male and female, looking for a natural alternative for a healthier quality of life."